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Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements read more
Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.
It is almost as difficult to keep a first class person in a fourth class job, as it is to read more
It is almost as difficult to keep a first class person in a fourth class job, as it is to keep a fourth class person in a first class job.
If all the economists were laid end to end, they'd never reach a conclusion.
If all the economists were laid end to end, they'd never reach a conclusion.
The meaning of economic freedom is this: that the individual is in a position to choose the way in which read more
The meaning of economic freedom is this: that the individual is in a position to choose the way in which he wants to integrate himself into the totality of society.
Our whole evolution up to this point shows that human groups spontaneously evolve patterns of behavior, as well as patterns read more
Our whole evolution up to this point shows that human groups spontaneously evolve patterns of behavior, as well as patterns of training people for that behavior, which tend on balance to lead people to create rather than destroy. Humans are, on net balance, builders rather than destroyers.
A computer will not make a good manager out of a bad manager. It makes a good manager better faster read more
A computer will not make a good manager out of a bad manager. It makes a good manager better faster and a bad manager worse faster.
It is the duty of a good shepherd to shear his sheep, not to skin them.
It is the duty of a good shepherd to shear his sheep, not to skin them.
Avarice has ruined more souls than extravagance.
Avarice has ruined more souls than extravagance.
A fool and his money are soon parted. - Five Hundred Points of Good Husbandry.
A fool and his money are soon parted. - Five Hundred Points of Good Husbandry.
